WeWork names two Indian-Americans, to Board, and as Chairman

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WeWork Inc. (NYSE: WE), a leading global work-space provider, announced March 29, 2022, that CEO Sandeep Mathrani has also been appointed to the position of Chairman of the Board. It also announced that Saurabh Jalan, Partner at SoftBank Group International (“SBGI”), has joined its Board of Directors.

Mathrani has served on the Board since he was appointed CEO of WeWork in February 2020. 

Coming into his position as CEO at a critical time for WeWork, Mathrani is credited with leading transformation efforts to bring the company back on track, “leading the organization’s transformation efforts,” the company said in its press release.

“Under his leadership, the company has made significant progress in streamlining operations and stabilizing the space-as-a-service business, while finding new ways to monetize WeWork’s existing footprint and technology,” the company said.

In his role as Chairman, Mathrani is expected to “elevate opportunities that support the short- and long-term growth of the company.” Mathrani will partner with Bruce Dunlevie, who will continue to serve as WeWork’s Lead Independent Director, to set the agenda for the Board.  

“Sandeep’s appointment as Chairman is a testament to the high esteem in which he is held by WeWork’s Board of Directors, as well as his tremendous commitment to WeWork’s business, its members and employees,” Dunlevie is quoted saying in the press release. ““In just two years as CEO, Sandeep has not only rebuilt WeWork’s foundation but has oriented the company’s path towards sustainable profitability through disciplined growth and innovation,” Dunlevie added.

Jalan, in his current role at SBGI, oversees large, global investments, including SoftBank’s stakes in WeWork, T-Mobile US, Deutsche Telekom AG, TelevisaUnivision, Inc. and Snapdeal. Jalan has been with SoftBank since 2015 and has spent time in the United States, Europe, India, and South East Asia as SoftBank scaled its technology investing efforts. Prior to joining SoftBank, Jalan held positions at AEA Investors, a middle-market private equity firm based in London, and, prior to that, at Silver Lake Partners, a technology-focused private equity firm based in New York and London.

“Having worked closely with the WeWork management team over the past several years as they led the company’s turnaround, I am looking forward to supporting them in building on WeWork’s leadership in the flexible space market,” said Jalan. 

WeWork was founded in 2010 and since then, has become one of the leading global flexible space providers.